Could I get 0% APR with Volkswagen Credit? (Yes!)

[CreditJim]

I currently have an auto loan with Volkswagen Credit at 3.74% that I've had for 21 months. I've never missed a payment, and lately have been making larger payments than required. I've been thinking about a new car due to an increase in family size and just noticed that VW are offering 0% financing on their 2014 models to clear them. I had 2 auto loans prior to the current VW one, and I've never missed a single payment on any of them, so my auto-enhanced fico should be higher than my regular TU score which is 712. Credit card utilization is at 5%. I owe slightly less on the loan than the current trade in value, so if I could do a straight swap for a new car and get 0% I think I'd go for it. I'm just wondering if anybody knows how difficult it is to get the 0% tier from VW?

[Creditaddict]

If they won't give a 3 x returning customer the 0% you need to find a different car to buy! that's a slam dunk... is it the 0% for 72 months? they have been offering that off and on on different models for a while now.

[CreditJim]

Oh, the first two loans weren't with VW, different lenders. Yes, 0% for 72 months on a new Touareg. I'd be thrilled to not pay a single cent of interest and borrow money for completely free. I'm just having a hard time spending so much on a car. I can afford it, and have a good job, but still very frugal. Some of the Touaregs they're selling at the moment have over $7k off MSRP, due to the 2015 model arriving soon and being a newer shape I guess. But $7k off a new VW with 72 months 0% does seem like a genuinely enticing deal, as you don't seem to normally get much off VWs.

[Creditaddict]

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@CreditJim wrote:

Oh, the first two loans weren't with VW, different lenders. Yes, 0% for 72 months on a new Touareg. I'd be thrilled to not pay a single cent of interest and borrow money for completely free. I'm just having a hard time spending so much on a car. I can afford it, and have a good job, but still very frugal. Some of the Touaregs they're selling at the moment have over $7k off MSRP, due to the 2015 model arriving soon and being a newer shape I guess. But $7k off a new VW with 72 months 0% does seem like a genuinely enticing deal, as you don't seem to normally get much off VWs.

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I don't know I looked a Jetta Hybrid earlier this year that had 0% for 72 months and the car was priced at almost $33k and she knocked it down to $27k before I even came to dealership... I say if you can get what you need to on your trade and move from 3-4% to 0% then it may just make sense!

[grassfeeder]

I believe they have small print stating that discounted price and promo APR can not be combined.

[CreditJim]

They do, grassfeeder. I'm just trying to find what the sweet spot is, and find out exactly how motivated they are.

[grassfeeder]

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@CreditJim wrote:

They do, grassfeeder. I'm just trying to find what the sweet spot is, and find out exactly how motivated they are.

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for the hell of it I inquired at my local dealer.  No APR special - $6k off MSRP.  $3K off MSRP with APR special.  Still not a bad deal at all given you hardly ever get Euro's at that much off MSRP.

[Creditaddict]

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@grassfeeder wrote:

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@CreditJim wrote:

They do, grassfeeder. I'm just trying to find what the sweet spot is, and find out exactly how motivated they are.

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for the hell of it I inquired at my local dealer.  No APR special - $6k off MSRP.  $3K off MSRP with APR special.  Still not a bad deal at all given you hardly ever get Euro's at that much off MSRP.

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but if you could get a 2-3% from your credit union than the $6k might be better if you don't use the full 72 months to pay... weight it out

[CreditJim]

I'm getting the same info grassfeeder, basically still a good chunk off of the MSRP but it's either the 0% 72 months or an extra $3k off. I've done all the math and it seems that with the 2.9% rate I'm pre-approved from my credit union with, I'd still save a small amount of money by paying an extra $3k for the car and getting 0%. However, if VW could give me the extra $3k off AND a lower rate than the CU, like 1.9%, then that'd probably work out better.

[Creditaddict]

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@CreditJim wrote:

I'm getting the same info grassfeeder, basically still a good chunk off of the MSRP but it's either the 0% 72 months or an extra $3k off. I've done all the math and it seems that with the 2.9% rate I'm pre-approved from my credit union with, I'd still save a small amount of money by paying an extra $3k for the car and getting 0%. However, if VW could give me the extra $3k off AND a lower rate than the CU, like 1.9%, then that'd probably work out better.

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sounds like you have the plan for buying the car... go get it!